Chennai: Power generation rose 6 per cent in the first 10 months of the current fiscal.
From April to January 2024, power generation grew 6.60 per cent compared to the corresponding period in the previous year, a government release said without mentioning the volumes. The electricity generation target (Including RE) for the year 2023-24 has been fixed as 1750 billion units (BU)
Coal-based power generation too grew by 10.06 per cent during the period. In the first nine-month period of the fiscal or till December, domestic coal-based generation had risen to 872 billion units (BU) an increase of 7 per cent from 813.9 BU in the corresponding period of the previous year.
Meanwhile, coal import for blending witnessed a decrease of 36.69 per cent to 19.36 MT during Apr 23-Jan’24 from 30.58 MT in the corresponding period of the previous year. Till December, the country had achieved a 40 per cent reduction in coal imports for blending purposes. Despite, conventional power generation sources like thermal, nuclear, and hydro and renewable sources like wind, solar, and biomass, coal remains the predominant source, contributing over 70 per cent to the total power generation.
The international community has been clamouring for a reduction in the use of coal and shifting to cleaner fuels amidst increased environmental concerns. However, India has maintained that coal-based power generation has been pivotal in meeting the nation's burgeoning energy demands
“The government persists in its relentless efforts to further augment coal production with the aim of enhancing availability and reducing dependence on imported coal,” it said.
According to Ind-Ra, the renewable sector will continue to contribute a significant portion to the new capacity additions. The total installed power capacity is expected to more than double by FY32. However, thermal capacity additions are expected to continue, with 29GW already under construction as of December 2023. The government is planning to add another 30GW of thermal capacity by 2032, in addition to the earlier target of 50GW. Thus, thermal PLFs are expected to remain healthy to meet the projected energy demand of 2,666 billion units in FY32.
